SoloPower raises another $9.6M

SoloPower Inc. has raised another $9.6 million in equity capital, according to a new filing with the Securities & Exchange Commission made public Monday.

The San Jose, Calif.-based developer of thin-film solar technology is in the process of building a $340 million production operation based out of two buildings in North Portland. The company last month signed a lease for 225,250 square feet of industrial space on North Marine Drive.

To help finance the project, SoloPower last month secured a $197 million loan guarantee from the U.S. Department of Energy. The company has also been approved for a $20 million loan from Oregon’s State Energy Loan Program and more than $125 million in venture capital, with the most recent prior round coming in June, when the company disclosed in a regulatory filing that it raised $15 million of a nearly $44 million round.

The latest round, disclosed Monday, is for $9,664,000. Other than the federal loan, company officials have declined to discuss previous rounds. Among its investors are Hudson Clean Energy Partners and Crosslink Capital, both of which have seats on the company's board.